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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The North neighborhood of Helena, Montana exhibits a specific affordable housing landscape influenced by Low-Income Housing Tax Credit (LIHTC) funded projects. This area contains 54 affordable units, all categorized as low-income. Based on the 2022 population of 5,841 and utilizing the national average household size, an estimated 2,238 housing units exist in the neighborhood. LIHTC funded affordable housing comprises approximately 2.4% of the estimated housing inventory in the North neighborhood.
The LIHTC program has allocated $386,716 in tax credits for affordable housing projects in this neighborhood. This equates to an average federal funding of $7,161 per unit. The neighborhood has benefited from LIHTC-funded affordable housing since 2001, beginning with the completion of Ptarmigan Residences. The most recent project, Pheasant Glen, was completed in 2003, indicating a concentrated period of LIHTC development in the early 2000s.
All 54 LIHTC-funded units in the North neighborhood are one-bedroom apartments, indicating a focus on smaller household sizes or individual residents. The Ptarmigan Residences project, completed in 2001, was specifically designed for individuals with disabilities, addressing a specific need for accessible housing in the community.
Over the past decade, the North neighborhood has undergone certain demographic changes. The population has remained relatively constant, with minor fluctuations. The median income has displayed an overall upward trend, increasing from $44,836 in 2013 to $51,404 in 2022, despite some year-to-year variations.
Regarding racial distribution, the neighborhood has maintained a predominantly white population, consistently above 87% throughout the decade. However, there has been a slight increase in diversity, with small but growing percentages of Hispanic, Native American, and multiracial residents. The Asian population has remained steady at approximately 1% since 2018.
Given that no new LIHTC projects have been constructed in the last decade, the increasing median income and relatively stable population may suggest a reduced demand for additional low-income housing in recent years. However, it is important to note that other affordable housing programs not captured in this data may be addressing ongoing needs.
The North neighborhood of Helena, Montana has a modest LIHTC-funded affordable housing inventory, with 54 one-bedroom units across two projects completed in the early 2000s. These units represent about 2.4% of the estimated housing stock. The neighborhood has experienced an increase in median income and slight growth in racial diversity over the past decade, while maintaining a stable population. The early focus on accessible housing for individuals with disabilities through the Ptarmigan Residences project demonstrates a responsive approach to specific community needs. While no new LIHTC projects have been developed recently, the existing inventory continues to contribute to the neighborhood's housing landscape.